CLEVELAND, Ohio – Super Bowl champion and long-time Cedar Point fan Travis Kelce is joining forces with an activist investment firm to revitalize the amusement park’s parent company. On Tuesday, Jana Partners announced its collaboration with Kelce, a native of Cleveland Heights, along with consumer executive Glenn Murphy and technology executive Dave Habiger. This group has made a significant investment in Six Flags, the parent company of Cedar Point, Kings Island, and numerous other amusement and water parks across North America.
As of Tuesday, the Jana Partners group holds a 9% stake in Six Flags. According to a recent press statement, the investment group aims to engage with Six Flags’ management and board to explore “opportunities to enhance shareholder value and improve the guest experience.” This strategic move highlights the growing interest in enhancing the operational effectiveness of Six Flags.
Six Flags spokesman Gary Rhodes expressed enthusiasm about collaborating with the new investors, stating, “We appreciate the perspectives of shareholders and take their feedback seriously as we continue to advance our initiatives to increase attendance, enhance our guest experience, and drive profitable growth and shareholder value.” This engagement signals a promising future for the company as it navigates through recent challenges.
Despite its rich history and numerous attractions, Six Flags has faced a challenging year. Following its merger with Cedar Fair in 2024, the company has experienced significant declines in both attendance and revenue through June. There have also been talks about the potential sale of some parks, raising concerns among fans and investors alike. The company's stock price has plummeted by over 50% since the merger, putting additional pressure on management to turn things around.
However, the announcement of the Jana Partners and Kelce collaboration has sparked optimism in the market. Following the news, Six Flags’ stock rallied, closing at $26.34 on Tuesday, marking a remarkable 21% increase for the day. This surge indicates that investors are hopeful about the future direction of the company and the impact of the new leadership.
Kelce, who plays as a tight end for the Kansas City Chiefs and is currently engaged to pop superstar Taylor Swift, expressed his excitement about this new venture on social media. He stated that he “couldn’t pass up the opportunity to continue the tradition and make Cedar Point and Six Flags even more special for the next generation of families.” Kelce’s passion for Cedar Point is evident, as he reminisced on his New Heights podcast in 2023 about childhood trips to the amusement park, where he and his brother Jason debated the merits of Cedar Point's renowned roller coasters.
In a light-hearted exchange, Jason favored the Millennium Force, while Travis championed the Raptor. Their discussions not only highlight their personal connections to Cedar Point but also underscore the park's legacy as a beloved destination for families.
As the partnership between Kelce and Jana Partners develops, many are hopeful that this strategic investment will lead to a revival of Six Flags, ensuring that Cedar Point and its sister parks continue to thrive for future generations.
